Can a monitor be appointed to oversee the purchase and sale of shares while a finding of oppression is made out?
Yukon, Canada
The following excerpt is from May v. Circumpacific Energy Corp., 2004 YKCA 1 (CanLII):
In Osborne v. Bucci, a finding of oppression had been made and the monitor was appointed to oversee the company while the purchase and sale of the shares was concluded. In the case before us, a finding of oppression had not been made and, in light of the reasons of the chambers judge including what he said in refusing to grant injunctive relief, it is not possible to infer that he found a strong prima facie case of oppression had been made out.
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